Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,305 shares of the company’s stock after purchasing an additional 136 shares during the period. Pinion Investment Advisors LLC’s holdings in Palantir Technologies were worth $279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Palantir Technologies in the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new position in Palantir Technologies in the fourth quarter worth approximately $253,816,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent research reports. Loop Capital lifted their price target on shares of Palantir Technologies from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group upped their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.30.

Palantir Technologies Stock Up 1.6%

Shares of NASDAQ:PLTR opened at $137.40 on Friday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $140.00. The company has a 50 day moving average of $115.48 and a two-hundred day moving average of $94.81. The company has a market capitalization of $324.25 billion, a price-to-earnings ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same period in the prior year, the business posted $0.08 EPS. The business’s revenue was up 39.4% on a year-over-year basis. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. This trade represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,816,925 shares of company stock worth $215,448,358 over the last ninety days. 9.23% of the stock is owned by insiders.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.